Greek bond yields hit record lows

Two and five-year bonds yields in Greece, which received its first ratings upgrade from Standard & Poor’s in two years on Friday, hit record lows at 1.21 percent and 2.73 percent respectively.

“Concerns about Italy have died down, we’ve had the Spain upgrade, good news on Greece as well as a quite good economic environment, which is something that benefits the periphery,” said DZ Bank strategist Daniel Lenz.

Eurozone finance ministers welcomed Greek progress in delivering reforms but said on Monday they would only disburse the next tranche of loans once all agreed actions are complete.